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SECTION 00612 - Payment Bond KNOW ALL MEN BY THESE PRESENTS: BY THIS BOND , we _Ranger construction Industries Inc P . O . Box 14589 Ft. Pierce . FL 34979 (772) 464-6460 as Principal (Contractor), (Insert name , principal business address , and telephone number of Principal]Contractor) and I WWI Statnc Fid -lify and r,naranf Company 5801 Smith Ave Ralfimnrek4Q 91903 80(1.949-8734 a corporation , as Surety, (Insert name, principal business address, and telephone number of Surety) are held and firmly bound unto the County of Indian River, Florida , 1840 , 25th Street , Vero Beach , Florida 32960 , (772-567-8000 ), in the sum of Seven Million Nine Hundred 'Twenty-Two Thousand Seven Hundred Ninety-Sic and 20!100 Dollars ($ 7,922 , 796.20 ) amounting to 100% of the total bid price . For the payment of said sum we bind ourselves , our heirs , executors , administrators and assigns , jointly and severally , for the faithful performance of a certain written Contract, dated the day of ,- 20 o5 entered into between the Principal and the County of Indian River, for: Bond Number: 104579277 Project Name : 41 s Street Roadway Improvements County Project Number: 0016 8 0236 Project Address : 41 Street Vero Beach , Florida Project Description : Roadway Improvements to 41g Street from 61 Avenue to 38 Avenue. A copy of said Contract is incorporated herein by reference and is made a part hereof as if fully copied herein . NOW , THEREFORE , THE CONDITIONS OF THIS OBLIGATION ARE SUCH , that, if the Principal shall promptly make payments to all claimants , as herein below defined , then this obligation shall be void; otherwise, this Bond shall remain in full force and effect, subject to the following terms and conditions : 1 . A claimant is defined as any person supplying the Principal with labor, material or supplies, used directly or indirectly by the Principal or any subcontractor in the prosecution of the Work provided for in said Contract, and is further defined in Section 713 . 01 of the Florida Statutes . B . The provisions of Section 255 . 05 Florida Statute shall apply. The above named Principal and Surety hereby jointly and severally agree with the County of Indian River that every claimant as herein defined , who has not been paid in full before the expiration of a period of ninety (90 ) days after performance of the labor or after complete 00612 - 1 0016-00612 - Payment Bond F.'*n ineenagw.ap0ai PrO*0110018 & 0236 41st Street MrWavernents=18 & 023641st St Contract Docs10010.0002 • Peyrrmt aond.doc Rev. 05401